Frutarom Industries Ltd. has announced it has signed an agreement to acquire Polish company, Pollena-Aroma for approximately $8.5 million.

“The acquisition of Pollena-Aroma continues Frutarom's implementation of its rapid and profitable growth strategy and the realization of its vision to be the preferred partner for tasty and healthy success,” said Ori Yehudai, president and CEO of Frutarom Group. “This is the 11th acquisition we have made this year, following 29 acquisitions we have carried out since 2015.”

Frutarom’s Future

Established in 1956, Pollena-Aroma develops and markets flavors, fragrances and specialty ingredients for the aromatherapy and natural cosmetics industries. The company operates an advanced production site near Warsaw, which includes an R&D center and an excess production capacity. Frutarom plans to utilize this excess production capacity for a center of Frutarom’s European fragrance activities.

This acquisition works directly with Frutarom’s strategy for global growth and for establishing a presence in growing markets. With the acquisition of Pollena-Aroma, Frutarom will also be able to expand in the field of specialty ingredients for the aromatherapy and natural cosmetics industries.

“This is another strategic acquisition of activity in Frutarom's core field which will enable us to offer our customers a broader portfolio of solutions, and an important step in implementing Frutarom's strategic plan to develop worldwide business in fragrances,” said Yehudai. “The field of fragrances is synergetic and complementary to the field of flavors with respect to raw materials and production processes, among other things, and many players in Frutarom's fields of activity carry out parallel flavors and fragrances activities.”